Due to the continuous increase in the prices of petrol and diesel, the government is under great pressure to cut their prices. To get relief from their increased prices, there is a demand to bring them under the purview of GST. Recently, the Prime Minister and then the Chief Economic Advisor Krishnamurthy Subramaniam also advised to bring it under the purview of GST. Before this, Petroleum Minister Dharmendra Pradhan has also suggested this. However, Finance Minister Nirmala Sitharaman has described it as religious. Now SBI economist Soumikanti Ghosh has said that after being brought under the ambit of GST, the price of petrol and diesel can come to Rs. 68.
Petrol and diesel fall in GST, 0.4% loss to GDP
Saumyakanti Ghosh has said in his assessment that petrol and diesel and the state governments will only incur a revenue loss of one lakh crore rupees which will be 0.4 percent of GDP. This assessment has been done based on the price of crude oil in the international market at $ 60 per barrel and a dollar-rupee exchange rate of 73 rupees per dollar. Both the central and state governments impose their tax on petrol and diesel. States apply VAT on petrol and diesel as per their requirement. The center imposes excise duty. With this, the center's cess is put on it. In some parts of the country, the price of petrol has reached 100 rupees a liter.
Saudi Arabia turned down India's request
Meanwhile, OPEC has ignored India's plea to lift applicable controls on crude oil production. At the same time, there has been an increase in the price of crude oil in the international market. Saudi Arabia has told India that it can use the crude oil it bought at the time when the price of crude oil went down significantly last year. Brent crude oil, which is the most used crude oil, rose nearly one percent to $ 67.44 a barrel on Friday.
Petroleum Minister Dharmendra Pradhan appealed to OPEC countries to reduce the restrictions imposed on production to bring stability in the price of crude oil. He believed that due to the rising crude oil prices in the international market, both the improvement in the economic sector and the demand are having a bad effect.
The weather is changing rapidly across the country. Monsoon has arrived in many states, while flo
The BJP has served a notice to the Speaker over alleged inaccuracies in the speech of the Leader
Actor Govinda had an accident today on Tuesday morning. He was leaving for Kolkata in the morning
Which country's passport is the most powerful in the world and which country's passport is the we
The Bombay High Court has ordered the CBI to conduct a preliminary inquiry in 15 days in the case
The information about the attack on Saif Ali Khan has shocked everyone. Late night, the thief bro
Best Camera Phones: These are the top 5 camera phones with 108MP, priced under Rs. 20,000
Top 5 Camera Phones: The camera has now become the basis of the popularity of any smartphone. Onl
The 17th match of the World Cup 2023 will be played between India and Bangladesh today at the Mah
Realme has confirmed that it will launch its high-end Realme GT 2 series of smartphones at MWC 20
UPSSSC PET Exam 2022: What is PET and what are its benefits, know complete details from here
The Uttar Pradesh Subordinate Services Selection Commission has started the application process f
